Hyperliquid’s USDH stablecoin officially launched after winning the bid on Native Markets

According to Odaily Planet Daily, the USDH stablecoin issued by Native Markets has been launched on the Hyperliquid platform, with the USDH/USDC trading pair now open for trading. Initial trading volume indicates a cautious but active market start, reaching approximately $2.2 million as the market launches. USDH is the first dollar-pegged token issued based on the Hyperliquid validator node selection process. It is a stablecoin natively issued on the HyperEVM and can be circulated across the entire Hyperliquid ecosystem. Native Markets won the bid earlier this month, beating proposals from several companies including Paxos, Frax, and Agora. (The Block)